Wednesday, January 1, 2014

2013 Longmeadow Home Sales Show Continued Strength

Shown below are a series of charts summarizing the latest single family home sales for Longmeadow, Massachusetts.  These latest results for January - December 2013 period include both MLS and FSBO transactions and are based upon public information obtained from the Hampden County Registrar of Deeds website.

  • Longmeadow home sales for January - December 2013 were only slightly lower (-3.2%) vs. the year earlier period (184 vs. 190) and the second highest total since 2007 continuing the improvement observed last year from prior years (see figure 1 below).

    There was one note of disappointment.... sales transactions slowed toward the end of the year with 4Q/ 2013 results significantly lower vs. 4Q/ 2012 (-29%, 37 vs. 52).
  • The median sales price for 2013 showed a significant increase (+15.0%) vs. 2012 ($307,500 vs. 267,000). See figure 2 below.

    The median sales price for December 2013 (6 month trailing average) showed a significant decline vs. average of the prior six months (-6.7%, $300,500 vs. $322,000) but was significantly higher vs. December 2012 (+12.5%, $300,500 vs. $267,000). See figure 3 below.
  • For the January - December 2013 period, 47% of the homes (86 out of 184) were sold below the assessment value (see figure 4 below). For all of 2012, 64% of the homes (121 out of 190) were sold below the current assessment value.
Many real estate markets across the country have shown strength in 2013 continuing the hopeful signs from 2012.  Recently, an increase in mortgage rates have raised concerns about the housing market recovery.

A continuation of the improvement in employment and sustained economic recovery will likely lead to higher consumer confidence and a more positive environment for home sales in 2014.
Figure 1
[click chart to enlarge]
Figure 2
Figure 3
Figure 4

Here is a link to the data for 2006-2013 Real Estate Transactions that were used to develop the above graphs.
Longmeadow FSBO
East Longmeadow FSBO

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